Demagogue

Okay, somebody please help me make sense of this.

The chairman of the Federal Reserve Board had an upbeat message for a Senate committee this morning. According to MSNBC:

Federal Reserve Chairman Alan Greenspan told Congress on Wednesday that the economic expansion rolled into the new year at a respectable pace .... “All told, the economy seems to have entered 2005 expanding at a reasonably good pace, with inflation and inflation expectations well-anchored,” Greenspan said in prepared testimony before the Senate Banking Committee.

But MSNBC also reports:

Stock indices were lower Wednesday, as Wall Street digested Federal Reserve Chairman Alan Greenspan’s comments on the U.S. economy and monetary policy.

Some people have a hard time digesting bad news. But only Wall Street chokes on good news.